The best alternatives to Nearest5 are Hive, YikYak - Web version, and Bark. If these 3 options don't work for you, we've listed a few more alternatives below.
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Chatr is a location based social media that lets users browse and create feeds for any location or event. Get updates on local deals and events or setup a customized feed for your campus, classroom, apartment complex, or office. Find out who shares your city by joining in on the Chatr.
HereHere is a location based chat app designed to help you meet new people and find out what's going on where in your town or anywhere in the world. Look up and choose a place on the map to find out what's going on and who's there.